LLOYDS Banking Group will be closing the Halifax in Alton on September 26 as part of a cost-cutting exercise which is expected to see hundreds of jobs cut as 100 branches close between July and October.

Alton’s Halifax bank on the High Street is one of the branches to fall under the axe in this latest round of closures which will affect 54 Lloyds branches, 22 Halifax branches, and 24 Bank of Scotland outlets across the country.

There will also be a net reduction of 325 staff, who were told about the plan last Wednesday.

The reductions form part of a three-year cost-cutting measure (2015-2017) which will result in 12,000 jobs cut and 400 branches closed by end of 2017.

In a statement from the Halifax, a spokesman said: “We have made the difficult decision to close the Halifax Alton branch, which will close on September 26, 2017. This branch has been identified for closure because of the changing way customers choose to bank with us, which has resulted in customers using it less often.

“The majority of customers now regularly use alternative branches or use other ways to bank such as online and telephone banking to complete their banking needs.”

Statistics for Alton’s Halifax branch, which for its size would typically employ between five and seven colleagues, show that:

* Sixty-six per cent of personal customers in Alton use other branches and other ways to bank such as online and telephone banking;

* The number of counter transactions made by personal customers using the Alton branch decreased last year by 15 per cent.

* The branch has seven regular weekly personal customers (regular weekly basis is defined as at least 48 out of the 52 weeks in a year).

“In addition, the property lease on this branch is due to expire which has contributed to the decision of the timing of the closure of this branch,” said the spokesman.

“It is our aim to try to redeploy all colleagues affected by this announcement, and who wish to remain with the business, into an alternative role. Colleagues at the Alton branch will also be able to indicate an interest in being considered for voluntary redundancy. We cannot at this stage confirm the number of colleagues at the branch who will be leaving the business.”

In a letter to customers, the Halifax confirms that Alton accounts will be moved to the Basingstoke Wote Street branch, although it is possible to do banking at any Halifax branch, including Farnham West Street, or at the local post office.

East Hampshire MP Damian Hinds was informed of the closure decisions via a letter from Lloyds Banking Group public affairs officer James Allan, who explained that the plan was to close the Halifax branch in Alton on September 26 and two Lloyds branches in Bordon and Grayshott on August 1 and October 10 respectively.

Customers of Lloyds bank in Bordon, the last bank standing in the town, will have their accounts realigned to Farnham or Liphook, while Grayshott customers will see accounts transferred to Haslemere.

Mr Allan said: “In line with our commitments under the British Bankers’ Association’s Access to Banking protocol, we are writing to affected customers and our local directors will be engaging with businesses and the wider community to make sure they are aware of the alternative ways of accessing their banking in the local area.”

He added: “We are committed to working through the changes with colleagues in a careful and sensitive way.”

* Alton lost its Lloyds Bank in 2013 after an EU ruling that Lloyds would have to sell off more than 600 of its branches in return for state aid received in 2008.

The Alton branch was one of three in Hampshire sold off as part of a newly-created Verde Bank but is now trading under the TSB brand.